January 27, 2022

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FS drew attention to years of tax exemption from real estate sales tax

FS drew attention to years of tax exemption from real estate sales tax

Until the end of February next year, natural persons not authorized to conduct business own real estate in order to file a regular or additional tax return for 2016 and 2020 for income tax on sales and transfer of ownership. FS spokeswoman Martina Rybansek reported Tuesday that Finann initially (FS) SR waived a penalty for late paying taxes or filing a tax return.

“You can avoid the year if you recognize the income from the sale of real estate by the end of February 2022,” Rybansek said. If taxpayers want to avoid penalties for late tax payments or late filing of tax returns, they must declare income and pay income from the sale or transfer of real estate during 2016 and 2020 by this deadline. As of the imposition of the year, the financial waiver will be waived even if the taxpayer receives a deferral of tax payment and calendar premiums.

Finan points out first that in some cases, income from transfer of ownership will be tax-exempt. In this case, there is no obligation to provide the return and payment. This is for example the sale of real estate he owned for more than five years and was not included in commercial real estate. Exemption from tax is the donation of real estate or the sale of retained property.

The Finance Department has so far been able to save €2.5 million for the current budget, sending warning letters to 13,000 taxpayers to file and pay property tax returns. Of this amount, approximately 1.8 million euros were obtained from taxpayers who additionally filed a tax return after receiving the letter. The remaining 700,000 euros are recorded financially by those who were aware of this obligation and filed a tax return for 2020. Nearly 9,000 taxpayers remained, who did not declare income. If they do so by the end of February, they will be exempted with a total of €500,000 over the years.

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